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Equifax posts lower YOY adjusted earnings in Q4'17

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Equifax posts lower YOY adjusted earnings in Q4'17

Equifax Inc. reported fourth-quarter 2017 net income attributable to the company of $172.3 million, or $1.42 per share, up from $123.0 million, or $1.01 per share, in the year-ago quarter.

Net income for the quarter includes a one-time tax benefit of $48.3 million as a result of the Tax Cuts and Jobs Act.

Adjusted net income for the quarter was $168.6 million, or $1.39 per share, down from $172.4 million, or $1.42 per share, in the prior-year period. Adjusted net income excluded the company's tax benefit, as well as $26.5 million of expenses related to a major cybersecurity breach that could have impacted about 147.9 million U.S. customers, which the company announced during the third quarter of 2017. Prior to reporting its most-recent earnings results, the company identified another 2.4 million U.S. consumers who may be effected by the breach.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.35.

Operating revenue for the quarter was $838.5 million, up from $801.1 million a year ago. Equifax's total operating expenses reached $647.6 million, up from $597.2 million in the prior-year period.

For the full year 2017, net income income attributable to the company was $587.3 million, or $4.83 per share, versus $488.8 million, or $4.04 per share, in the previous year.

Adjusted net income for the year was $724.9 million, or $5.97 per share, compared with $669.0, or $5.52 per share, for the full year 2016. Equifax reported $114.0 million in the full year 2017 related to its cybersecurity incident.

The S&P Capital IQ consensus normalized EPS estimate for the full year 2017 was $5.92.